Affected by the strong trend of iron ore futures market, except for the increase of RMB5/tonne for partial scarce resources, traders’ quotations of spot iron ore market remained unchanged generally compared with that of the previous day. Specifically, in Shandong, prices of PB fines, Newman lump and Ukraine lump settled at RMB420/tonne, RMB680/tonne and RMB1300/tonne respectively. Both traders and steel mills were satisfied with the spot prices today. Due to the production limitation of environmental protection, prices of lump and pellet remained firm currently with active inquiries and procurements from steel mills.
Today, in Shandong, Carajas fines, Robe River fines, Yandi fines and PB lumps were traded at RMB720/tonne, RMB332/tonne, RMB426/tonne and RMB675/tonne respectively. In the Yangtze River regions, Yandi fines and PB lumps traded at RMB443/tonne and RMB693/tonne. While in Tangshan, PB fines and Jimblebar fines closed at around RMB505/tonne and RMB448/tonne separately. Influenced by the environmental policies and high port stocks, the imported iron ore market is hard to go up in a short term and it is predicted to shocked around RMB485/tonne in the upcoming market.
Sources:XINDE MARINE NEWS
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